XRP Eyes $3 Surge as First U.S. Futures ETF Hits Nasdaq—Bulls Ignore Regulatory Déjà Vu

Ripple’s native token gets a turbocharge from Wall Street’s latest crypto gambit—just don’t mention the SEC’s unfinished business.

Nasdaq rolls out the red carpet for the first XRP futures ETF, sparking a 20% intraday pump as traders bet big on the $3 psychological barrier.

Market makers are loving the liquidity play, while purists grumble about ’paper XRP’ diluting the decentralized ethos. Same circus, different speculators.

In a May 21 tweet, Eric Balchunas, a senior ETF analyst at Bloomberg, confirmed the fund is the “first 1x” and noted that the existing Teucrium product’s success shows “there will be demand” for XRPI.

The leveraged ETF by Teucrium has gathered $121 million in assets under management and maintains an average daily trading volume of $35 million. In contrast, Volatility Shares aims to attract more conservative investors with its unleveraged 1x ETF.

The launch of XRPI also raises hopes for an eventual XRP spot ETF, which is still awaiting approval by the U.S. Securities and Exchange Commission (SEC). Pending applications for spot XRP ETFs from firms such as Franklin Templeton and Bitwise are still under review.

XRP’s price hasn’t reacted to the ETF debut. At the time of writing this report, the cryptocurrency is trading for $2.42 which is just 0.14% recorded in the last 24 hours. However, the trading volume has surged 19%  above $4 billion as interest in the token increases. 

Currently, the price is consolidating between a support zone at $2.16 and a resistance zone at $2.54. The momentum is low at the moment with RSI at 56, which is neutral. Neither bulls or bears are controlling the market but the overall trend is bullish. 

However, the trend seems to be observing a short correction before gathering momentum to charge at the resistance zone. If the XRP price manages to break, the token could see a rally up to $3.4.

Also Read: XRP Ledger Powers Launch of Braza’s New USDB Stablecoin